Update on ArmenakArmenak is very happy with his deal with Kiva for the second time and, as he used to say, he has a reliable partner for his business like Kiva. So he continues to manage his greenhouse activities in Kapan city with his family and it brings in the main part of the family's income. Armenak grows herbs and vegetables such as parsley, radishes, tomatoes, cucumbers, peppers, beans, coriander and onions and all these he successfully manages to sell to their city markets. Armenak is a very clever and prudent farmer and, as he says, he always tries to be informed about any innovation connected with agricultural activities, particularly anything connected with greenhouse care or anything that can be cultivated there.
This time, Armenak needs a loan of 1.000.000 Armenian drams in order to buy plastic covers for his greenhouse, some fertilizer, soil and seedlings.
Previous Loan DetailsSince 2000, Armenak has been engaged in agriculture on his plot of land in Kapan. With his own hands, he has built a plastic-covered greenhouse where he grows herbs and vegetables such as parsley, radishes, coriander and onions. He sells fresh herbs year round at Kapan's markets, whereas sometime... More from Armenak's previous loan »
About “Nor Horizon”
“Nor Horizon” UCO LLC is committed to promoting poverty alleviation in Armenia by providing high-quality financial and other business development services to enterprising individuals in under-served rural and urban markets who have a strong will to establish and develop their own small-scale businesses. Originally created as the Armenian micro credit program of Oxfam (Great Britain) in late 1995, “Nor Horizon” LLC has been licensed under supervision of the Central Bank of Armenia since early 2006.
To stay updated on loans from Armenia, please join the Armenia lending team at http://www.kiva.org/team/armenia.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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This loan has been fully funded!